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Personal Experience is my metric but others may chose budget, support or location depending on their requirements.
it's based on what do you need:
reliable hardware/network
fast and useful support
cheap
....
Reviews, Reviews, Reviews
My priorities are >
I would test a new host by opening a ticket on a Saturday mid night to test their fast response
uptime ,hardware ,io speed ,network speed ,location ,price
Many companies don't reply fast to sales tickets.
Personality of the people running it is my number one, shit happens, it is how people deal with it and how they deal with you that matters.
But it is worth, if you can make your Technical Support during the week-end to respond to the Sales tickets.
You can search for web hosting bench-marking studies.
Read reviews and testimonials.
Search the public conversations on Twitter and how people mention them.
Go to the support or live chat of the hosting provider and see how they respond. Customer service matters a lot.
I am a Cloudways customer. And what I love there is that they have an amazing team of customer service available every time. They provide three kinds of VM's DigitalOcean, Amazon, & Google Compute Engine with many value added features.
Sniff, sniff… (use your "internet" nose )
Seriously now: